A French court has ruled that a turnaround plan proposed by the brand's current owner, the Falic group, will now go ahead with the loss of the couture and pret-a-porter side of the business, and the company now concentrating solely on accessories and perfumes. It is thought that only 11 of the current 120 staff will be retained.

With a long history stretching back to the label's inception in 1987, it is sad to see one of fashion's most interesting and luxurious brands hit the pattern-cutting room floor.

Lacroix gained notoriety for his elaborate and terribly expensive haute couture pieces. Seen on many red carpet celebrities, the label counted among its fans Helen Mirren, Nicole Kidman and Kirsten Dunst. Moreover, it was the Ab Fab ladies' label of choice.

A year after he founded his own fashion house, Christian Lacroix presented his first spring-summer collection in 1988, and was awarded the Golden Thimble for that year. All we can say is God bless the 80s

July 2009: French fashion designer Christian Lacroix at his atelier. French fashion house Christian Lacroix was placed on June 2, 2009 under administration after filing for bankruptcy protection because of the global financial crisis